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Conventional wisdom has it that an autocratic ethnonationalist backlash against global capitalism and liberal democracy is driving 21st-century politics. Yet recent developments have shown the...

Francis Fukuyama’s 1990s end-of-history thesis was the last big narrative that united the liberal-democratic West. Western liberal-democratic welfare-state capitalism, he argued, was the best possible...

In a short essay published almost 40 years ago, the French author Emmanuel Carrère observed that counterfactual history–imaginative accounts of what might have been–is driven...

Is there any way to make sense of US President Donald Trump’s peculiar approach to governance? The economist Mancur Olsen offered a framework nearly three...

What’s not to love about a sovereign wealth fund? Gulf states’ SWFs, which control roughly $6 trillion in assets, are no longer mere investment vehicles....

Evidence of markets’ systematic overestimation of risk in developing economies has been piling up for years. The latest addition is the new release of the...

From the Kremlin to the White House to Silicon Valley, the Antichrist–or at least talk of it–is coming. The concept amounts to little more than...

Brazil’s economy is doing well by almost any measure. GDP has grown at around 3% for three consecutive years, unemployment is at historic lows, and...

As everyone knows, the war in the Middle East has caused a sharp spike in oil, gas, and food prices, creating severe economic hardship worldwide,...

On his recent visit to India, US Secretary of State Marco Rubio predictably touted India as one of America’s “most important strategic partners,” citing the...